IRB Infrastructure Developers raises Rs 200 cr through NCDs
New Delhi: Mumbai-based IRB Infrastructure Developers has raised Rs 200 crore through non-convertible debentures (NCDs). These NCDs have been issued on a private placement basis, the company said in a regulatory filing.
These NCDs that have been allotted are secured, redeemable, listed, rated non-convertible debentures. The NCDs have a face valued of Rs 10 lakh each.
The Board of Directors of the company had last month approved fund raising plans of up to Rs.2,500 crore. The board had decided that the money raised would be issued for capital expenditure as well as to meet cash flow mismatches.
The company had earlier bagged the Mumbai Pune Expressway project. iT was secured under TOT model. The project cost was Rs 8,200 crore.
It had also signed a deal of Rs 4,400 crore with Singapore’s GIC Affiliates for the investment in nine BOT projects of IRB under private InvIT structure.